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  "documentTitle": "Hess Corporation (HES)",
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  "presentationDate": "2013-03-01 00:00:00",
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  "notes": "Uses a bar chart to show consistent shareholder support for de-staggering over time, contrasted with the board's failure to implement it due to high voting thresholds.",
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      "kind": "callout",
      "text": "Did John Hess vote against the recommendation of his own board of which he is Chairman? How will he vote this year?",
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      "text": "In 2012, shareholders backed de-staggering with 94% of outside voters. The board recommends it but opposes removing the 80% threshold that previously blocked it.",
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      "text": "De-staggering the Hess board requires 80% of outstanding shares. In 2007, 97% of outside voters backed it. In 2008, 245.7mm shares voted for it, but 37.1mm voted against (John Hess controlled 36.6mm).",
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      "text": "percentage of shares voted for declassification: 37mm",
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      "text": "Sources: Company Filings, Factset, ISS Voting Analytics. 1. Hess estate is assumed to have voted against declassification and is excluded from calculation",
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      "text": "All Directors Could Have Been Accountable, But for 37mm Shares...",
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